31-08-2020

 

Nifty 

 Pre Market View

Nifty is in clear up trend with momentum. Expecting a trend day on Monday also. 

Level to watch 

Resistance- 11690 (PDH), 11700 (BRN)

Supports-11630 (Flip, DO of Friday), 11600 (PDL & BRN)

 

Plans for Monday (31 August)

If market open above PDH & 11700, will look for long. If open within Friday range, will look for strong rejection at the lower levels and will take BOF trade. 

Market Commentary

Nifty Gap up outside. Extremely bullish as expected but did not get the follow through. there is chance of filling the gap also.will wait for the price to come down to the 11700 or PDH. Here will go long on BOF.  Market turned bearish. took BPB of RL. Took 2 unplanned trade also and paid the price. took another trade at PBP of PDC. moved well. covered the loss made on unplanned trade and also made some profit. good day but i did not follow the process. was fully deviated during the market hour. 

Lesson- I should not try to track many instruments. Need to focus only on one instrument that is Nifty. No Over Trade.